The Africa-focused private equity arm of banking and investment group Investec Asset Management has acquired a controlling stake in South Africa-based tertiary education provider Richfield Holdings. The company, which primarily operates under the Richfield Graduate Institute of Technology brand, has more than 20,000 enrolled students across 40 campuses in South Africa and offers distance learning courses throughout Southern Africa. Separately, Investec has made a follow-on investment in Africa-focused off-grid solar system developer Mobisol alongside development finance institutions FMO and IFC. The company plans to use the funds to grow both its core consumer and enterprise businesses in East Africa and other parts of the region, as well as broaden its product offerings and upgrade its payment software solution, Paygee. Investec invested in both companies through Africa Private Equity Fund 2. Financial details of the transactions were not disclosed.